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EIB to finance Bengaluru Metro Rail Project

Akash Sharma, New Delhi
06/10/2017   0 Comments

European Investment Bank (EIB), has signed a finance contract of €300 million with the Government of India, for Bangalore Metro Rail Project Phase II Line R6.  

The project is to be jointly financed by EIB and Asian Infrastructure Investment Bank (AIIB) for a whopping amount of €500 million and €300 million, respectively. The first tranche of Euro 300mn was signed today.

The aim of the project is to bring in a quantum improvement in the transportation sector in the city in tandem with the Bangalore Metropolitan Transport Corporation (BMTC) and other modes of urban transport.

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